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EcoSynthetix Announces Plans to Internalize North American Manufacturing and Expand Investment in European Toll Facility
EcoSynthetix Announces Plans to Internalize North American Manufacturing and Expand Investment in...
About this update from Ecosynthetix Inc.
[{"type":"text","content":"\n \n \n \n EcoSynthetix Announces Plans to Internalize North American Manufacturing and Expand Investment in European Toll Facility\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n BURLINGTON, ON\n \n \n ,\n \n \n Feb. 28, 2023\n \n \n /CNW/ - EcoSynthetix Inc. (TSX: ECO) (\"EcoSynthetix\" or the \"Company\"), a renewable chemicals company that produces a portfolio of commercially proven bio-based products, today announced plans to modify its manufacturing footprint with improvements to both its North American and European asset bases.\n \n \n EcoSynthetix will internalize its North American manufacturing capacity at its Centre of Innovation and corporate headquarters in\n \n Burlington, Ontario\n \n in 2023 and install its first, in-house manufacturing asset with an annualized name-plate capacity of up to 30 million pounds. This investment will improve the Company's ability to launch new products and reduce manufacturing costs.\n \n \n In\n \n Europe\n \n , EcoSynthetix is also investing to upgrade its manufacturing infrastructure to enable flexibility in supply chain options and reduce manufacturing costs, at its toll manufacturing partner's facility in Oosterhout,\n \n The Netherlands\n \n .  This facility has a dedicated production line owned by EcoSynthetix with name-plate capacity of up to 80 million pounds. The Company also has access to an additional variable production line at this facility with name-plate capacity of up to 40 million pounds which is currently used for production of specialty grades.\n \n \n \"With the expansion of our product offering into new verticals and the growing importance of supply chain management, these capital investments provide us greater flexibility and an improved cost position to meet customer demand,\" said Jeff MacDonald, CEO of EcoSynthetix. \"Internalizing North American production will provide us with more control of the manufacturing process as we launch new products, win new accounts and grow our Durabind™, Bioform™, EcoSphere®, and Sur...